VUBFX vs. VUSXX

Last updated Apr 2, 2026

Compare and contrast key facts about Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) and Vanguard Treasury Money Market Fund (VUSXX).

VUBFX is managed by Vanguard. It was launched on Feb 24, 2015. VUSXX is managed by Vanguard. It was launched on Sep 1, 2010.

Performance

VUBFX vs. VUSXX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) and Vanguard Treasury Money Market Fund (VUSXX). The values are adjusted to include any dividend payments, if applicable.

VUBFX vs. VUSXX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	0.59%	5.04%	5.99%	5.43%	-0.53%	-0.21%
VUSXX Vanguard Treasury Money Market Fund	0.59%	4.25%	1.65%	0.43%	0.00%	0.00%

Returns By Period

As of year-to-date, both investments have demonstrated similar returns, with VUBFX at 0.59% and VUSXX at 0.59%.

VUBFX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.59%
• 6M: 1.62%
• 1Y: 4.31%
• 3Y*: 5.24%
• 5Y*: 3.26%
• 10Y*: 2.56%

VUSXX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.59%
• 6M: 1.59%
• 1Y: 3.76%
• 3Y*: 2.30%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

VUBFX vs. VUSXX - Expense Ratio Comparison

VUBFX has a 0.20% expense ratio, which is higher than VUSXX's 0.08% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

VUBFX

Vanguard Ultra-Short-Term Bond Fund Investor Shares

VUSXX

Vanguard Treasury Money Market Fund

Return for Risk

VUBFX vs. VUSXX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

VUBFX

VUBFX Risk / Return Rank: 100
VUBFX Sharpe Ratio Rank: 100
VUBFX Sortino Ratio Rank: 100
VUBFX Omega Ratio Rank: 99
VUBFX Calmar Ratio Rank: 100
VUBFX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

VUBFX vs. VUSXX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) and Vanguard Treasury Money Market Fund (VUSXX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	VUBFX	VUSXX	Difference
Sharpe ratio Return per unit of total volatility	5.18	3.51	+1.67
Sortino ratio Return per unit of downside risk	10.17	—	—
Omega ratio Gain probability vs. loss probability	3.60	—	—
Calmar ratio Return relative to maximum drawdown	14.46	—	—
Martin ratio Return relative to average drawdown	65.22	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

VUBFX vs. VUSXX - Sharpe Ratio Comparison

The current VUBFX Sharpe Ratio is 5.18, which is higher than the VUSXX Sharpe Ratio of 3.51. The chart below compares the historical Sharpe Ratios of VUBFX and VUSXX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	VUBFX	VUSXX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.18	3.51	+1.67
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	3.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	3.07	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	3.06	2.02	+1.04

Correlation

The correlation between VUBFX and VUSXX is 0.02, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

VUBFX vs. VUSXX - Dividend Comparison

VUBFX's dividend yield for the trailing twelve months is around 4.12%, more than VUSXX's 3.69% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
VUBFX Vanguard Ultra-Short-Term Bond Fund Investor Shares	4.12%	4.62%	5.42%	4.06%	1.28%	0.43%	1.52%	2.58%	2.13%	1.43%	0.98%
VUSXX Vanguard Treasury Money Market Fund	3.69%	4.15%	1.63%	0.43%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

VUBFX vs. VUSXX - Drawdown Comparison

The maximum VUBFX drawdown since its inception was -1.86%, which is greater than VUSXX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for VUBFX and VUSXX.

Drawdown Indicators

	VUBFX	VUSXX	Difference
Max Drawdown Largest peak-to-trough decline	-1.86%	0.00%	-1.86%
Max Drawdown (1Y) Largest decline over 1 year	-0.30%	0.00%	-0.30%
Max Drawdown (5Y) Largest decline over 5 years	-1.86%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-1.86%	—	—
Current Drawdown Current decline from peak	-0.10%	0.00%	-0.10%
Average Drawdown Average peak-to-trough decline	-0.17%	0.00%	-0.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.07%	0.00%	+0.07%

Volatility

VUBFX vs. VUSXX - Volatility Comparison

Vanguard Ultra-Short-Term Bond Fund Investor Shares (VUBFX) has a higher volatility of 0.34% compared to Vanguard Treasury Money Market Fund (VUSXX) at 0.00%. This indicates that VUBFX's price experiences larger fluctuations and is considered to be riskier than VUSXX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	VUBFX	VUSXX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.34%	0.00%	+0.34%
Volatility (6M) Calculated over the trailing 6-month period	0.55%	0.77%	-0.22%
Volatility (1Y) Calculated over the trailing 1-year period	0.84%	1.17%	-0.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	0.98%	0.72%	+0.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	0.84%	0.72%	+0.12%